Here Are 3 Hot Things to Know About Stocks Right Now

For the week the S&P lost 2.04%, the Dow tanked 3.05% and the Nasdaq declined 1.08%.

At one point during Friday's session, the Dow was down 391 points.

The Dow remains 2,078 points below its all-time high on Jan. 26.

Wall Street Overview

Stocks turned mixed on Friday, March 2, as investors reacted to President Donald Trump's plans to impose strict import tariffs on steel and aluminum.

The Dow Jones Industrial Average finished down 70 points, or 0.29%. At its session low, the Dow was down 391 points. The S&P 500 was up 0.51% and the Nasdaq gained 1.08% as healthcare stocks rose.

For the week the S&P 500 declined 2.04%. The Dow lost 3.05% and the Nasdaq gave up 1.08%.

The stocks leading the Dow lower were McDonald's Corp. (MCD) and Caterpillar Inc. (CAT) . Analysts at RBC cut their price target on McDonald's to $170 from $190 after saying that the fast-food chain's $1 $2 $3 menu was off to a slow start.

Trump's aim to curb foreign imports and protect U.S. jobs has investors around the world deeply concerned about a global trade war, with officials in Canada, Germany and China vowing to respond in kind if Trump follows through with a formal announcement next week.

On Friday, Trump tweeted: "When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don't trade anymore-we win big. It's easy!"

The move was seen as an effort to protect two struggling U.S. industries that have seen significant drops in employment in recent years and came after Secretary of Commerce Wilbur Ross recommended in mid-February that the administration impose some combination of tariffs and quotas on countries across the globe exporting steel and aluminum to the U.S.

Markets also were spooked by another round of hawkish testimony from Federal Reserve Chairman Jerome Powell. In his second day of testimony before Congress, Fed Chairman Powell suggested Thursday the central bank could hike interest rates as many as four times this year as the economy continues to improve. Most Fed-watchers have predicted three rate increases in 2018.

Nordstrom Inc. (
JWN) rose 5.8% despite the retailer reporting fourth-quarter earnings below Wall Street's expectations. Nordstrom said same-store sales in the quarter rose 2.6%, just days after reports broke that it's about to
finalize a bid to go private.

Shares of Vista Outdoor Inc. (
VSTO) fell 7% after REI, a retailer that sells outdoor apparel and supplies, said it
would no longer carry products made by Vista Outdoor because the company also sells guns and ammunition. REI joins a list other companies that have in some way taken a stand against assault-style weapons and the National Rifle Association.